Pursuant to Rule 16 of the CTIM Rules And Regulations (On Professional Conduct And Ethics) revised on 23 February 2012, the Institute has adopted the Recommended Practice Guidance Note No. 2 --- Professional Indemnity Insurance (PII) as recommended by the Public Practice Committee. The Institute has secured a proposal from Marsh Insurance Brokers (Malaysia) Sdn Bhd (MARSH) for CTIM tax practitioners to be covered by PII. The Proposal and the QBE PII policy from the insurer, QBE Insurance (Malaysia) Berhad, are attached for your attention.
The Institute recommends that all CTIM tax practitioners should have PII coverage.
Please note that the CTIM is not involved in the PII contract between the contracting parties and is only providing a service to our members by arranging a PII cover specifically for tax practitioners for their use. Members are free to obtain their PII insurance from any other insurer (if any) in the market.
Please be guided accordingly.
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